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Manhattan Beach and the South Bay/Beach Cities: Sold for May... 2000-2007

By Kaye Thomas

Real Estate Agent with Real Estate West BRE# 701315

June 16, 2007 02:19 PM

Hermosa Beach Sand Section Homes.

There have been a lot of stories in the media about the California real estate market this week. Headlines scream.. number of sales down 34%.. (courtesy of the LA Times on June 14, 2007) However the question is.. did the volume of sales really fall that much and if they did.. is this a national or a local phenomena..

With that in mind, I decided to track the number of sales in Manhattan Beach and North Redondo every May from 2000-2007. May is historically the month that is usually in transition from the hot Spring months to the slower Summer months. I used Manhattan and North Redondo as these two cities represent the highest and lowest priced markets in the Beach Cities of Manhattan Beach, Hermosa Beach , Redondo beach and El Segundo.

So.. here are the figures for the month of May from 2000-2007

I'm not going to attempt to interpret the statistics other then to note that overall sales volume seems fairly consistent over the last eight years.. prices however have seen some definite differences..

Hmmmmm .. does this mean that the Beach Cities may just be a more stable market them any of us realized.. with a pretty consistent number of sales each year.. no matter what the prices. Now there is no guarantee that we won't see problems if the economy takes a nose dive but it looks to me as if the South bay/ beach Cities market has been relatively consistent even in the face of higher prices.

Check out my local Beach Cities Blog

Southern California: Holding it's Own in the Real Estate Wars

Southern California Real Estate: The Market That Won't Die.

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Mana Tulberg

805 County Real Estate - Camarillo, CA

Real Estate Agent - Camarillo CA

Kaye, what are we going to do with our media?

Jun 16, 2007 03:33 PM

Kaye Thomas

Real Estate West - Manhattan Beach, CA

e-PRO, Manhattan Beach CA

Mana- I guess we just keep plugging along and giving out as many facts as we can.. Somebody's got tto keep 'em honest..

Jun 16, 2007 07:26 PM

Lenn Harley

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA

Real Estate Broker - Virginia & Maryland

I wish I could say the same about our market. That 100% rise in prices and the recent increases in interest rates have wrecked havoc with our market.

Jun 17, 2007 12:20 AM

Marlene Bridges

Village Real Estate Services, Inc. - Laguna Hills, CA

Laguna Homes|Laguna Condos|Laguna Real Estate

Kaye - Sure is good to hear from your sunny self. Guess the rumors are true...bad news sells. Hope more folks tune in to AR to get the facts.

Jun 17, 2007 09:06 AM

Lenn- Although it drives the bubble bloggers nuts it has been a fairly even market over the years volume wise.. it's the prices that make it difficult but they don't seem to be going down a lot..

Marlene-Wouldn't it be nice if people realized that we really do know what weare talking about whne viewing the market as a whole.. too many people get hung up on one or two properties and think these represent the market as a whole.. instead of really looking at what is happening in their local market

Jun 17, 2007 12:21 PM

Morgan Brown

Inman News - Laguna Beach, CA

Hi Kaye,

I think the highly desirable areas will always be that - highly desirable. I think the housing prices will be impacted the most where home builders over-built, people over-paid and end up finding out that generally-speaking the homes are not worth what they paid.

Obviously this points more to an inland problem than a coastal problem. My question is how far from the coast will that influence reach? There is only so much gorgeous Manhattan Beach property - it's tough to say the same for the Inland Empire.

I for one can't wait to be able to afford to buy a home from you in Manhattan or Hermosa! It would be a dream come true!

Jun 19, 2007 06:13 AM

Morgan- I would love to sell you a home in Manhattan or Hermosa..

As to your question.. how far inland does the coastal influence fall.. that depends on the community.. In the South Bay.. you start to see problems about 5-6 miles inland and much of that is because you start running into heavy crime areas.. In Orange County you might see the influence spread farther inland into Irvine or up through Tustin, Orange, Fullerton and into Anaheim Hills. There are some stunning homes in old established neighborhoods that will continue to see price increases.

The problem in the Inland Empire is there are no employment centers in the area.. they built homes and expected people to make long commutes.. with gas prices on the rise and no decent public transportation being seriously considered these areas are in big trouble.

I did a run on prices up to 1995 that I will post in another article.. prices are lower but volume stays fairly similar.

Jun 19, 2007 06:45 AM

Manhattan Beach and the South Bay/Beach Cities: Sold for May... 2000-2007

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